The Price of Silver
Are you seeing the price of silver jewellery going up, and wondering why? Our favourite lustrous metal is becoming more in demand, which brings mixed emotions - it may push silver out of your price range, or it may make you value your pieces even more!
The cost of silver as a semi-precious metal makes it more of a luxury these days, as global demand for metals increases for use in science and technological advancements. The price of silver is indexed as with other valuable resources such as gold, copper, silicone, and offers a temperature test against world events and the global economy.
The price of silver has soared in the last 6 months, struggling to find a stable new normal. Its increase in price has been approximately 119.8% over the past 8 months. That could be wonderful news if you have a lot of silver to sell, but it's also a challenge for businesses like ours who rely on stable pricing in order to offer customers the best possible prices for the highest quality jewellery.
Why is the Price of Silver Rising?
1 - Industrial Demand
It's amazing how much Silver is used across many industries, it's highly prized for its non-reactive properties. Silver is used in medicine for plasters and bandages to aid healing, in water purification and nanotechnology as an antimicrobial. Solar technology uses silver to convert sunlight into stored electricity. Silver is also used in the production of electronics, due to its soldering and brazing properties for low temperature alloys, and as our demand for technology continues to grow, so does the demand on these vital precious metals. And everyone's new favourite friend, AI, is dependent on silver; its indispensable for the hardware, data centres and power grids that run artificial intelligence models.
2 - Global Economy Shifts
The US has had quite the impact in global economics, not in the least through the Liberation Day Tariffs. Since the President's tariffs notoriously exempt precious metals; gold and silver have become the safest havens for wealth preservation, consequently driving up their prices
The extensive use of silver in industry, as well as its safe-haven status in terms of tariffs, means Investors are now turning toward this new-found potential, which drives up the price. The current chaotic landscape of geo-politics also encourages investors to turn to precious metals; they are tangible assets.
3 - Inflation
The cost of living has been rising dramatically for the last couple of years, and it's natural for commodities such as jewellery, and their raw materials to follow. The cost of mining, processing, smithing and marketing jewellery is all more than it was previously, which drives up the price of the end product.
So those are some of the reasons why the price of silver dramatically increase. But it's important for us to be honest and set out the challenges our family business is facing – so what are we're doing about it?
The Silver Bubble Promise
We want to share is that no matter what happens with the raw price of silver ore, that we will always bring you the highest quality jewellery and keep our prices sensible. That means charging a fair price for our pieces, after all of our costs have been considered.
The price of our products may rise, but it also means we can continue to provide our beautiful products sustainably.
We won't compromise on:
Fair Wages - we always pay a fair rate to our silversmiths, they are part of the Silver Bubble Family after all and their livelihoods are threatened! Quality - we'll never revert to skimping on materials. Integrity - what you see is what you get - our pricing reflects the market, and all of the work that goes into each and every piece.
What can you do to get the best value for your money?
Our advice is to buy the best quality you can afford. You could spend more on one high quality pair of handmade silver earrings and get a lot of joy out of them or buy 4 pairs for the same amount which could irritate your ears, discolour or even break. Mass produced jewellery is likely to be thinner, or lacking quality control that leaves you with a product that is more 'fashion', less 'luxury'.
Silver Bubble Jewellery is crafted to last. This means that the pieces you bought from us in 2008 (yes, we've been going for a long time!) will still hold a value in terms of their weight in silver - but we're betting the sentimental value is even higher :)
We also recognise the need to diversify, so will be looking to source unusual and quality jewellery in more affordable metals –adding to our popular silver and copper collection and presenting new designs in artisans metalworking in brass.
Watch this space for news!
